Page 36 - City of Bedford FY20 Approved Budget

MARCH

Budget During this step, departments are responsible for reviewing their individual budgets and
Preparation submitting their proposals for the upcoming year. For departments that also include a
citizen advisory board (i.e. Parks & Recreation), the board members have the
opportunity to discuss priorities for the coming year to be taken under consideration with
the budget.

APRIL-JULY
Budget Office Once the departments have completed their initial budgets, department representatives
Review meet with Budget staff. The intent of these meetings is to review budget requests for
clarity and supporting documentation. This is also time to ensure that requested amounts
are correct and sufficient for departmental operations.

City Manager The next step is the review of the preliminary budget requests by the City Manager. The
Review City Manager meets with departments individually to review their operating budgets and
supplemental requests.
AUGUST

Proposed The proposed budget must be submitted to the Council no later than the fifteenth day of
Budget August, but is actually submitted at a time that will allow enough time to review prior to
Submitted to the scheduled work sessions. At the time of submission, a copy is made available
Council through the City Secretary’s Office, at the library, and on the City’s website for public
review.

Budget Work This is the first public meeting that the City Council has to hear presentations from the
Session staff and discuss the proposed budget and the corresponding tax rate. The Budget Work
Session is generally held at the beginning of August and allows for a thorough
presentation of the budget. It also allows the Council to discuss supplemental requests
and form a consensus on what to fund in the upcoming budget.

Public Hearings The City is required to hold one public hearing on the budget. During the public hearing,
on Budget & the public is invited to share their comments on the proposed budget. In addition, if the
Tax Rate maximum tax rate being considered is higher than the effective rate, the City must hold
two public hearings to solicit comments on the tax rate.
SEPTEMBER

Adoption of the After deliberation and listening to citizen input via the public hearings, the proposed
Budget & Tax budget is finalized through adoption of a budget ordinance by the City Council. Once
Rate approved, the budget becomes the policy of the City Council and provides the
appropriations to fund City operations for the upcoming fiscal year. Additionally, the
budget ordinance sets the tax rate that is being used to fund the approved budget. If that
rate will result in an increase in overall property tax revenue, the City Council must
separately ratify the tax rate, acknowledging the revenue increase.

OCTOBER
Implementation This step commences with the beginning of the fiscal year. It is the operational plan for
of the Budget the City during the fiscal year. It is the responsibility of the City Manager to ensure
compliance with the approved budget and each department must assist by ensuring their
expenditures are in line with budgeted amounts. The City Manager may approve the
reallocation of funds within and between departments as long as the grand total is not
affected. Additionally, the budget can be amended through procedures outlined in the
City Charter by a majority vote of the City Council.

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